Kolkata, Feb 11: Coal India Ltd (CIL) on Saturday reported a 20.25 percent fall in consolidated net profit to Rs 2,884.47 crore in the quarter ended December 31, 2016 as compared to Rs. 3,617.18 crore in the corresponding quarter last year.
Its net sales for the quarter stood at Rs 19,704.45 crore, up 3.8 percent from Rs 18,971.48 in the year-ago period.
The miner produced 147.73 million tonnes (mt) of coal in October-December quarter of the current fiscal, as against 143.96 crore in the year-ago period. CIL’s off-take stood at 142.67 mt in the quarter ended December 2016, as compared to 137.89 mt in the same period last financial year, it said in a BSE filing.
In 2015-16, the miner produced 536.51 million tonnes of coal against a target of 550 million tonnes and its off-take stood at 532.26 million tonnes. It further said it would invest Rs 7,765 crore as capital expenditure and Rs 5,069 crore in various other projects in 2016-17.
The company envisaged production of 908.10 million tonnes in 2019-20 with a CAGR (Compound Annual Growth Rate) of 12.98 per cent with respect to 2014-15.
During 2016-17, the coal production target has been pegged at 598.61 million tonnes with an annualised growth of about 11.6 per cent. In 2017-18, coal production is expected to be 660.7 million tonnes with a growth of about 10.5 per cent.
